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Northgate/Oakden RLA281289

68a Muller Road Greenacres

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Price rise tipped for property!

16 May 2013 Northgate Professionals 0 Comment


The housing market will strengthen further – probably from 2014 – with gains of between 5% and 7%, according to Australian Property Monitors chief economist Andrew Wilson. However, Mr Wilson is sticking with his recent 2013 forecast made at the start of the year of a 3% to 5% rise in house prices over 2013.

In South Australia, regional house prices were up 4% according to figures released in in March 2013 by the Real Estate Institute of South Australia.

Although the market in regional South Australia was patchy, the overall results show that the market is slowly recovering and should be set for a positive movement in 2013.

The Professionals CEO, who also sits on the Board of REISA as its Vice President, Mr Ted Piteo, said that Port Lincoln experienced growth of 13% compared to the same quarter in 2012 and Naracoorte also moved up 2.65% over the same period.

“Some of the towns where mining has been a focus have slowed in the past few years, and this was to be expected after policy changes, however the long-term opportunities for other industries are still there and we expect these towns will lift in future,” Mr Piteo said.

Town                                                        Median                              Annual % change

Mount Gambier                                         $218,000                            -9.54

Murray Bridge                                           $235,000                            -6%

Port Augusta                                             $250,000                            1.32%

Port Lincoln                                              $320,000                            13.07%

Whyalla                                                     $267,950                            -4.30%

Berri                                                          $143,750                            -36.11%

Victor Harbor                                            $341,250                            -1.52%





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